VANCOUVER, BC, Jan. 31,
2022 /CNW/ - Mineral Hill Industries
Ltd. ("Mineral Hill" or "Company") listed on
the TSX Venture exchange ("TSXV") under the trading symbol
"MHI" and on the Deutsche Boerse, Frankfurt under the trading symbol "MLN"
wishes to announce that the TSXV has granted a thirty day extension
of the private placement announced on December 13, 2021 in order to finalize a Bridge
Financing for its due diligence under the terms of the Memorandum
of Understanding ("MOU") announced on November 17, 2021 with an overseas corporation
which is involved in the business of acquiring and financing
mineral resource assets consisting of alluvial gems and minerals
("RTO-Project").
The conditions and scope of the bridge financing will remain the
same with the Company raising $150,000 comprised of 600,000 common shares at
$0.25.
The financing will meet each criteria of Policy 5.2, section 5.3
"Bridge Financing" and will be used for covering costs such as
legal fees, audit fees and due diligence associated with proceeding
to completion of a possible RTO. No payments will be made to the
vendor.
THE COMPANY SEEKS SAFE HARBOUR
ABOUT MINERAL HILL INDUSTRIES LTD
Mineral Hill is a
publicly trading junior mining company focused on the acquisition,
exploration, development and possible mining of natural resources,
with the objective of developing the Dot-Apex Claim Group ("Apex
Claims") and the Master-ACE Claim Group ("ACE Claims"),
located in south-western British
Columbia (the "BC-Project").
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This news release may contain forward-looking statements
based on assumptions and judgments of management regarding future
events or results. Such statements are subject to a variety of
risks and uncertainties which could cause actual events or results
to differ materially from those reflected in the forward-looking
statements. There is no assurance the property option referred to
above will be exercised or the private placement referred to above
will close on the terms as stated, or at all. The Company disclaims
any intention or obligation to revise or update such
statements.
SOURCE Mineral Hill Industries Ltd.